Homer decides the launch an internet business after finding out that Ned Flanders has his own home-based Internet business, Flancrest Enterprises, and is making money out of it. Unbeknownst to Homer, Ned took out a loan of $5000 to start his business. The interest rate on the loan was 8% per year, compounded monthly. a) Ned is expected to repay the loan in full after 4 years. How much must Ned repay? (3 marks) b) How much of the amount will be interest? (2 marks)